The Lagos Chamber of Commerce and Industry (LCCI) has called on government to patronize local insurers for their massive insurance deals.
Mrs. Toki Mabogunje, President, LCCI made the call while speaking at the
Nigerian Council for Registered Insurance Brokers (NCRIB) Day at the 2021 Lagos International Trade Fair (LITR) on Friday in Lagos.
The News Agency of Nigeria (NAN) reports that the fair is holding from Nov. 5 to Nov. 14 and has as its theme: “Connecting Businesses, Creating Value”.
Mabogunje said risk management and business continuity have become critical factors in enterprise sustainability and prosperity in the post-pandemic era.
“We are in world of growing uncertainties, merging risks, and exposure to danger in the society.
” The insurance sector must rise to the task of providing adequate and professional insurance covers for wiling policy holders.
“We urge insurance companies to build capacity in handling big international deals for the oil and gas, maritime, and aviation sectors who hitherto engage foreign insurance brands for their top-rated insurance transactions.
” We also call on government to patronize local insurers for their massive insurance deals henceforth, ”she said.
Mabogunje said there was need for enlightenment campaigns to create awareness among Nigerians to get them educated on the benefits of insurance policies for mitigating against risks and uncertainties.
Also, Mr. Rotimi Edu, President, NCRIB, advised Nigerians to change their perception about insurance which was the bedrock of any financial part of a nation’s economy.
Edu said the number of life insurance, vehicle insurance and property insurance policy holders in the country was very abysmal, adding that his administration was working to increase its acceptability.
He said the country has over 400 registered insurance brokers, adding that the aim was to ensure its spread to the 774 Local Government Areas.
On his part, Mr. Samuel Ogbodu, Chief Executive Officer, Sunu Assurances Nigeria Plc, said insurance companies paid over N9 billion to claimants affected by the 2020 #EndSARS destruction.
He said the importance of underwriters could not therefore be overemphasized in the sustainable development of a country. (NAN)
